Facebook just had THE MOST SUCCESSFUL IPO in history. The newspaper headlines say it was a “flop”. That’s why some people write newspaper headlines and some people make a lot of money. The pessimists write the headlines and the optimists make the money. Facebook raised the maximum amount of money they could raise at the highest price and they paid the lowest fees paid in the history of investment banking. With decision-making and execution like that it adds to a long list of successful decisions that Facebook’s management continually makes. This IPO was very successful for Facebook, which is why their stock is cheap now.